• Deutsche Bank acts as agent on green solar sector bond

26 January 2022

On 13 December 2021, Green Lucca S.p.A., an Italian operator of solar photovoltaic (PV) plants owned by Green Utility S.p.A. and the Cassa di Risparmio di Lucca Fondazione, issued a EUR 72.3m green bond

Green Lucca currently operates 43 solar PV plants with a total capacity of 29.6MWp, and intends to use the proceeds of the bond to support the development of its solar energy business. Specifically, the company will use the proceeds to refinance and redeem existing debt in addition to funding eligible green projects, such as the acquisition of additional solar PV plants or making improvements to existing plants. The issuance qualifies as a green bond, in accordance with the International Capital Market Association (ICMA) Green Bond Principles and the Green Financing Framework.

Deutsche Bank S.p.A has been appointed as Paying Agent, Account Bank and Custodian on the transaction.

Ersilia Dimarco, Head of Trust and Agency Services, Italy said “We are proud to provide our agency services on one of the largest renewable bond financings in the Italian market and to support Green Lucca in further developing their solar energy business.”